FX.co ★ Trader’s calendar on february 16-17 May: When USD to lose its dominance?

US inflation continues to shape markets’ sentiment. What is more, the Federal Reserve's decision to start monetary policy easing also depends on inflation figures. The overall situation may have a negative influence on the US dollar. Even higher than anticipated data on the producer price index failed to boost the greenback, which remained in the red zone. Jerome Powell’s hawkish comments also failed to support the national currency. He said people should be patient and let restrictive policy do its work. However, it is inflation figures that may determine the future of the US dollar. Thus, the recent report put the greenback under pressure. What reaction should we expect from the Bank of England, the ECB, and the Fed? Curiously, seven officials of the Federal Reserve will deliver speeches in the near future. Jerome Powell will be the last to express his opinion. After that, we could determine what will influence the market more—macroeconomic reports or comments. In our video review, we will figure out what reports will be of greater importance later this week.

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